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What are the advantages of Bangkok Bank over Krungsri for non-residents and long-term visa holders?

Bangkok Bank Krungsri Non-resident bank account Long-term visa Banking in Thailand International wire transfers Express services for expats

Dec 10, 2022

2 years ago

ORIGINAL POSTER

OK, I already opened up a can of worms asking about my non-resident bank account at Krungsri. You know, the one that does not have any online banking, online purchasing, just ATM withdrawals. No matter what anyone said, that is the situation with that account type. We can now get a resident account as we do have a long term visa. It seems to have a lot more benefits. But before we do that, I thought I would subject myself to more runaround with this question: besides the Wise apps ability to show a deposit from overseas to Bangkok bank as a foreign deposit, is there any advantage of Bangkok bank over Krungsri? I know most people want to think their bank is the best, I get it. Please advise. Thanks. 😬

Edit: this is particularly in regards to use outside of Thailand.

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TLDR : Answer Summary

The user compares the banking options between Krungsri and Bangkok Bank, highlighting Krungsri's limitations for non-resident accounts and expressing interest in the benefits of Bangkok Bank, especially for international transactions. Comments suggest that Krungsri has restrictions on incoming transfers and that Bangkok Bank may offer better services, such as easier transfers and the ability to perform international transactions from their New York branch without fees.

Jp *******

Bangkok Bank has a branch in New York U can do US local wire transfer from a US financial institution to your bank account in Thailand by using the NY routing no. Personally I am paying no wire transfer fee from my US Schwab account

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Charles ********

I would not open a non resident account with krung Sri... I did that one before and it was completely worthless. Just try a different bank or branch. You can find someone to give you a full account even on tourist visa. It will be so much better for you.. Particularly with phone transfers and payments. Bangkok Bank is know to be the easiest, if you have a resident cert or motorized copy of passport from your embassy or immigration.

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Scot *******

ORIGINAL POSTER

I don't know what a motorized copy of passport means. I guess we will get the resident cert.

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Charles ********

notarized

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Scot *******

ORIGINAL POSTER

@Charles *******

- I see.

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Scot *******

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Scot *******

ORIGINAL POSTER

It's all we could get at the time to get our first non-o.

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Scot *******

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John **********

Krungsri is not one of the banks that can accept incoming transfers over 50k baht

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Scot *******

ORIGINAL POSTER

@John *********

- is that a change, as we wired in over 800k last year?

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John **********

I don't think there's a limit on swift transfers as they are bank to bank. Wise is not a bank.

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John **********

yes

Please note that you’ll be able to send 50,000 THB or above per transfer only to the following banks starting from 7 January 2022 due to regulatory changes:

Bangkok Bank Public Company

Kasikorn Bank

Siam Commercial Bank

You can still send money to recipient accounts that use other banks, but you’ll only be allowed to send them up to 49,999 THB per transfer. There’s no limit on how many transfers you can create.

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Scot *******

ORIGINAL POSTER

@John *********

- so just how is someone supposed to set up a retirement account for immigration?

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John **********

use one of the banks that allows large transfers, or do multiple smaller transfers?

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Scot *******

ORIGINAL POSTER

@John *********

- upon further looking, it seems that the limit of 50k baht transfer is by wise. There doesn't seem to be a limit by swift. That's a significant difference.

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John **********

Wise says it's a regulatory restriction, that sounds like a Thai limit. My guess is it's something to do with money laundering as Wise is not a Bank. But as long as you choose to transfer to one of the 3 banks that are supported for larger amounts the limit is 2 million baht

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Scot *******

ORIGINAL POSTER

@John *********

- OK, but is the limit on swift as well? I don't understand your answer.

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Scot *******

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